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Differential accumulation: Difference between revisions
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'''Differential Accumulation''' is | '''Differential Accumulation''' is a theory of capital [[Jonathan Nitzan]] <ref> ''Differential Accumulation: Toward a New Political Economy of Capital'' Johnathan Nitzan ''Review of Internation Political Economy'' Vol 5 No 2 Summer 1998 pp 169-216 </ref>. | ||
The concept of differential accumulation emphasizes the powerful drive by dominant capital groups to beat the average and exceed the normal rate of return. This concept is tied to a definition of [[Capital (economics)|capital]] as a social category rather than a material category (as seen by [[Neoclassical economics|neo-classical]] and [[Marxist]] thinkers). "[[Capitalism]] is not an ‘economic system’, but a whole social order, and its principal category of capital must therefore have an ‘encompassing’ definition."<ref>[http://bnarchives.yorku.ca/9/ Differential Accumulation: Toward a New Political Economy of Capital.] Nitzan 1998, p. 175</ref> | The concept of differential accumulation emphasizes the powerful drive by dominant capital groups to beat the average and exceed the normal rate of return. This concept is tied to a definition of [[Capital (economics)|capital]] as a social category rather than a material category (as seen by [[Neoclassical economics|neo-classical]] and [[Marxist]] thinkers). "[[Capitalism]] is not an ‘economic system’, but a whole social order, and its principal category of capital must therefore have an ‘encompassing’ definition."<ref>[http://bnarchives.yorku.ca/9/ Differential Accumulation: Toward a New Political Economy of Capital.] Nitzan 1998, p. 175</ref> | ||
